Chainlink’s LINK token has gained approximately 51% over the past seven days, outperforming much of the cryptocurrency market as improving regulatory sentiment and several adoption developments strengthened the bullish case for the network.
The rally has pushed LINK above the $12 resistance area and over its 200-day exponential moving average (EMA), a level commonly used to assess longer-term momentum. The move has also produced a technical target near $18, although that outlook depends on LINK holding above the breakout zone.
Chainlink’s secured value rises to nearly $57 billion
Chainlink’s total value secured (TVS) increased from roughly $43 billion in June to nearly $57 billion by the end of August. The approximately 33% rise indicates that more value is relying on Chainlink infrastructure across decentralized finance and other blockchain applications.
TVS measures the value supported or protected by Chainlink services, including oracle infrastructure, cross-chain communication tools and asset-verification products. It is an adoption indicator rather than a measure of revenue or assets directly owned by Chainlink, but continued growth could support the network’s longer-term position as it expands into institutional finance and tokenized assets.
Partnerships target banks and stablecoin verification
Chainlink recently announced a partnership with Bottomline, a payments technology company whose infrastructure supports SWIFT transfers for more than 600 banks worldwide. The collaboration is intended to connect Bottomline’s existing off-chain payment systems with multiple blockchain networks.
Through Chainlink’s Cross-Chain Interoperability Protocol, financial institutions using Bottomline could potentially interact with digital assets without replacing their existing payment infrastructure. The partnership could become relevant as banks explore stablecoins, tokenized deposits and blockchain-based settlement systems.
Chainlink has also been selected by the Wyoming Stable Token Commission to provide reserve verification for the state’s Frontier Stable Token. Chainlink Proof of Reserve is expected to publish verifiable information showing whether the token is fully backed by its underlying reserves.
Reserve transparency is particularly important for stablecoins because users need assurance that the amount in circulation does not exceed the assets backing it. The Wyoming deployment gives Chainlink a government-level use case and could help position its verification technology in the U.S. stablecoin market.
LINK’s technical setup points to further gains
LINK moved above its 200-day EMA in late August as altcoins broadly recovered. Its Relative Strength Index is currently 64, indicating strong momentum while remaining below the commonly watched overbought threshold of 70.
The token’s move above $12 also confirmed a breakout from a bullish flag pattern that had formed following the August 21 rally. Based on the size of the preceding advance, the pattern projects a target of approximately $18, representing about 44% upside from the $12 breakout level.
That setup could weaken if LINK falls decisively below $12. A failure to hold the breakout level would raise the risk that the move was temporary, while the token’s sharp weekly advance could also lead to short-term profit-taking. For now, rising TVS, institutional payment infrastructure and the Wyoming stablecoin use case provide fundamental support for the market’s renewed interest in LINK.
